Sunday, November 15, 2020

Should You Wait for a Hurricane to Buy in the LBI Real Estate Market?


Should You Wait for a Hurricane to Buy in the LBI Real Estate Market?






Long Beach Island Real Estate

Should You Wait for a Hurricane to Buy in the LBI Real Estate Market? WIth prices in the Long Beach Island real estate market generally high, many buyers look for opportunities to beat the market. One of the most common places to start looking in the distressed sale market (short sales, foreclosure, etc.) but these are few and far between in the LBI real estate market. Therefore, many buyers will try to wait for the next major weather event to crash the local real estate market. While this can of course happen at any time, the question is how sound of a strategy is this? Should You Wait for a Hurricane to Buy in the LBI Real Estate Market? The short answer is, probably not. There are few reasons for my making this assertion. They are:

  • Historically the LBI real estate market has been very stable, even in the face of significant downturns like the economic crash of 2008 and Hurricane Sandy in 2012.
  • Major development projects like the Federally funded beach replenishment program, larger bulkheads, and other drainage initiatives have helped to make LBI more secure.
  • There are far fewer “at-risk” homes in the LBI real estate market today than there were in 2012 thanks to all the rebuilding that has taken place since Hurricane Sandy.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com 

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Sunday, November 8, 2020

LBI Real Estate Weekly Sales Update 11/1/2020-11/8/2020

 

LBI Real Estate Weekly Sales Update 11/1/2020-11/8/2020



Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 11/1/2020-11/8/2020: Overall activity in the LBI real estate market dropped off this week. Some of this is likely due to the election, the time of year, and the very low levels of inventory. To help understand the dynamics of the LBI real estate market for buyers, sellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 16 new listings entered the market with an average price of $1,041,687
  • 29 listings went under contract with an average listing price of about $1,667,266
  • 29 properties sold on Long Beach Island with an average price of $1,063,259
  • 5 listings were either withdrawn of expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market





Monday, November 2, 2020

Long Beach Island Real Estate Equity Positions for Homeowners

 

Long Beach Island Real Estate Equity Positions for Homeowners



Long Beach Island Real Estate

Current homeowners looking to make a move can take advantage of increased equity in the LBI real estate market. Since COVID, the real estate sales and rental market on Long Beach Island have exploded with activity. We see deficient inventory levels coupled with high demand and a very buyer-friendly environment. These trends have led to increased home values, which automatically gives current homeowners an equity position they may not have otherwise had. This is only a “paper gain” until something tangible can be done with it. The good news is, there are several ways to take advantage of the current real estate market on Long Beach Island.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market









Monday, October 26, 2020

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/18/2020-10/25/2020

 

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/18/2020-10/25/2020



Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 10/18/2020-10/25/2020: There were 130 changes to the MLS this week which is about average these days. To help understand the dynamics of the LBI real estate market for buyerssellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 33 new listings entered the market with an average price of $1,740,115
  • 37 listings went under contact with an average listing price of about $1,359,035
  • 29 properties sold on Long Beach Island with an average price of $1,324,221
  • 12 listings were either withdrawn of expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market


More LBI Real Estate Information:

How to Determine Value in the LBI Real Estate Market

How to Sell a Home in the LBI Real Estate Market in a Divorce

Will We See Higher Taxes on Long Beach Island



Sunday, October 18, 2020

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020

 

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020





Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020: The LBI real estate market resumed some of its activity with 134 changes this week. Many of these changes were in the form of new listings, which the market desperately needs. To help understand the dynamics of the LBI real estate market for buyerssellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 35 new listings entered the market with an average price of $1,370,303
  • 36 listings went under contract with an average listing price of about $1,483,108
  • 36 properties sold on Long Beach Island with an average price of $1,303,206
  • 14 listings were either withdrawn of expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market




Saturday, October 17, 2020

Cost vs. Price in the Long Beach Island Real Estate Sales Market

 

Cost vs. Price in the Long Beach Island Real Estate Sales Market





Long Beach Island Real Estate

At present, we see record-low inventory levels and record-high levels of demand. This has created a seller’s market. Due to COVID or coronavirus, the current economic climate has also caused interest rates to fall to levels never imagined. When looking to purchase a home, buyers have to understand Cost vs. Price in the Long Beach Island Real Estate Sales Market. While prices have risen, the cost of ownership has fallen. While this is good news, there are a few additional layers that need to be understood, including:

  • Additional ownership costs like flood insurance
  • What determines value on LBI for long term appreciation
  • How will you handle the sale of a home in the future?

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market



Thursday, October 15, 2020

Long Beach Island Real Estate Months of Inventory

 

Long Beach Island Real Estate Months of Inventory




Long Beach Island Real Estate Months of Inventory

Thanks to coronavirus and the current economic policy, the LBI real estate market is on fire. Long Beach Island Real Estate Months of Inventory needs to be understood by both buyers and sellers in the current market as we are seeing unprecedented levels of inventory. At present, we are seeing about 40 or so homes come on the market each week and between 40 and 50 homes go under contract. With this kind of activity, fewer and fewer homes are available for buyers. This is reflected in the difficulty that buyers are having in finding a home and, in many cases, leading to buyers overpaying for a home. Understandings what creates value in the LBI real estate market as well as the current trends can help to avert a costly mistake. A study of the months of inventory is simply an estimate of how long it would take to sell all the homes available in the LBI real estate market if no new inventory came along.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com